Ch 1 Marketing Work Book

Lens of businesses today have marketing as their main activity
Marketing activities today are completed in much the same way they always have been done
Develiping marketing skills can actually help you to be a more affective consumer
Credit card companies are directly involved in marketing
Marketing activities can be categorized within four functions
Marketing activities are completed by profit-making businesses but not by not-for-profit businesses
A business is involved in marketing when he communicates the value of products to prospective customers
Successful businesses develop an approach to marketing planning that responds to
The needs of customers
By studying marketing, you will learn
How businesses use marketing to increase their effectiveness and Profits
Distribution includes
Determining the best procedure to be used so perspective customers can locate a product
Marketing-information management includes
Obtaining market information to improve decision-making
All Businesses activities contribute in specific ways to the success of the business
Marketing is particularly important when businesses produce a low quality product
Specialization of labor results in the production of large quantities of product
Self-sufficient people Bartered for goods they needed
Marketing has existed since businesses began exchanging goods
A money system was developed to assist with the exchange process
A new or small business does not need to coordinate it’s business functions
Self sufficient people have to overcome
The need for a variety of goods and services to live
In order to barter, both parties
Must want what the other party has
Central markets were usually located
Where people frequently traveled
Operations includes
Obtaining, transporting and storing products, maintaining buildings and equipment, preparing and maintaining paperwork and computerized records
Marketing has always been an important part of business
The most successful businesses are the ones that consider customers needs as they produce and market their products and services
Today the biggest challenges facing most businesses is getting the products from the places where they are produced to prospective customers
The marketing concept works well for organizations such as colleges in hospitals as well as for businesses whose goal is to make a profit
In marketing mix is the blending of three marketing elements – product, distribution, and promotion
Companies that believe in the marketing concept cannot be concerned about the amount of profit they make
Price is the actual cost that a business incurred to produce and market the product
As consumers increase their standards of living in have more money to spend, the demand for newer and better products
In the past, businesses could be successful by
Producing more products, increasing the amount of advertising, and increasing selling efforts for the products
Businesses that do not use the marketing concept
Often rely on advertising and promotion
During the production era, production processes were very complex in many product choices were available
During the sales era transportation systems were not well developed
During the marketing department era companies increasingly relied on a variety of marketing activities to find ways to expand markets and sell more products
There are some products that customers just want buy
After changing a great deal in the first half of the 20th century, the role of marketing and businesses has remained the same since that time
Marketing includes distribution, pricing, credit, and customer services
Marketing can help the business be more profitable by coordinating activities and controlling costs
Select the option that correctly identifies the development sequence of the philosophy of marketing
Production era, sales era, marketing department era, and marketing concept era
During the marketing concept era
Marking became the work of more than one department
Relationship marketing focuses on
Developing loyal customers who continue to purchase from business for long period of time

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